J.F. Lehman & Company Announces New Hires

For Immediate Release

July 19, 2007

NEW YORK – J.F. Lehman & Company, a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, has announced the addition of three new professionals to its New York office. Victor C. Caruso joins as Principal, Troy D. Barratt joins as Associate and Michael S. Friedman joins as Senior Analyst.

Mr. Caruso has previous experience in investment banking, industry and as an officer with the U.S. Navy. He joins J.F. Lehman from Houlihan Lokey’s Los Angeles office where he was among the senior professionals leading the firm’s Aerospace Defense Government investment banking effort focused on middle market mergers and acquisitions. Previously during his investment banking career he has worked in Thomas Weisel Partners’ and Merrill Lynch’s M&A Departments. Mr. Caruso earned a BS in Ocean Engineering from the U.S. Naval Academy and received his MBA from The Anderson School at UCLA. Mr. Caruso served as a Naval Flight Officer in the U.S. Navy.

Mr. Barratt joins us from Columbia Business School. He interned as a Summer Associate with J.F. Lehman & Company in 2006, and while at Columbia continued to work in private equity. Prior roles include Financial Analyst in AOL Online’s Corporate Development / Mergers & Acquisitions Group and Investment Banking Analyst at Bear Stearns & Co., Inc in the Mergers & Acquisitions Group. Mr. Barratt received a BS with high distinction in Finance, Entrepreneurship & International Studies from Indiana University.

Mr. Friedman joins us after two years as an Investment Banking Analyst with Jefferies & Company, Inc.’s Aerospace & Defense Group where he supported a wide range of transactions. Mr. Friedman graduated magna cum laude with a BS in Economics from The Wharton School at the University of Pennsylvania.

J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace, and maritime sectors. The firm has offices in New York and Washington.

For more information about J.F. Lehman & Company, please visit www.jflpartners.com.

Contact

Lisa M. Steffens

J.F. Lehman & Company

(212) 634-1150

lms@jflpartners.com